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From May 20 the data will be made public and a number of tech companies have signalled their intention to use the new information to create an app that will tell motorists know where they can fill up at the lowest cost.

Informed Sources managing director Alan Cadd said such a system would be a big improvement on the twice-daily updates currently provided by the Mortormouth website.

"The best thing is now you'll be able to look at hey, I'm in South Melbourne, hey I'm in Punchbowl, where's the cheapest site around me?" Mr Cadd said.

"That will mean pricing data for the rural areas as well as the capital cities."

As many as 30 software developers have reportedly expressed their desire to create such an app

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The NRMA, which already provides a price-monitoring service, said the addition of real-time data would be a "game changer".

A spokesman for the insurer said it was open to improving its current fuel monitoring service.

However, Informed Source faces a large potential problem: how it will justify continuing to charge fuel retailers for its data while providing it to the public for free.

In other nations where similar systems operate the cost is borne by the government but that will not be the case in Australia.

"You can imagine the four subscribing oil companies would take a dim view if that data was freely available out there for their competitors or non-subscribers to have free access, so it's a balancing act, we have to be able to pay for all of the programmers and therefore we need to control how this data gets out there," Mr Cadd said.

He added that there may be limits to how many times a non-paying user can access the information.